The Wagon Works, which was last used as office space, has beenpurchased by local developer Braden Fellman Group for conversion toloft office space. Fellman paid $3 million for the 110,000-sf, 1895red brick building. The company plans to invest another $1.6million for the conversion of the structure, including wiring tohandle the latest high-tech demands. The building will retain itsname.

Fellman has three baits for tenants. In that East Point isundiscovered as a hip place to locate, the company plans to offerlow rates for space, $12.50 per sf--a bargain for loft office spacein the metro market.

Another attraction is ample free parking and a third is theMARTA station just across the railroad tracks from the Wagon Works.All signs point to an OK from the Georgia Department ofTransportation for $1 million in funding to build a skywalk toconnect MARTA with the Wagon Works and the nearby Buggy Works,slated for condo-retail redevelopment. Fellman Group is alsoredeveloping a 1926 ice house in Decatur into loft apartments.